Plan
Web Site Text Messages
Please read the following important information about your
plan benefits and the amounts shown on this web site.
Benefits are Estimates
The amounts illustrated on this web site are estimates and
are based on current available participant data provided to Schwab Retirement
Plan Services, Inc. by
Freezing of Benefits
The benefits under the Plan have been frozen. Therefore, the benefit you can receive at your
Normal Retirement Date (NRD) will not change in the future. The Benefit
Projection page allows you to estimate your benefits at a different retirement
age.
Explanation of Terms Used on this Web Site
§
§ Estimated monthly accrued benefit as of mm/dd/yyyy payable at NRD: This is the estimated amount you
would be entitled to receive monthly beginning on your normal retirement date
(NRD) assuming that you terminated employment on the date indicated.
§
Amount Vested: This is the estimated amount you would be entitled to
receive monthly beginning on your normal retirement date (NRD) assuming that
you terminated employment on the date indicated.
Obtaining an Actual Calculation
For
instructions on obtaining an actual calculation of your benefits, click on the
Manage Account tab near the top of the Defined Benefit Home Page, and then
click on the Withdrawals tab.
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Account
Overview Page: More Information
Please note the following regarding the benefits shown on
this page:
§ The Projected Monthly Benefit
Illustrations are calculated using the amount of your
§ Benefits are shown for ages 55, 60,
62, 65, and 67. You can estimate benefits at other dates by clicking on the
Benefit Projection tab near the top of the Account Overview page.
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Benefit Projection
Page: More Information
Please note the following regarding the projected benefits
obtained on this page:
§ The Plan allows retirement at or
after (1) age 55 if you terminate before 1/1/1989 and have at least 10 years of
vesting service, (2) age 55 if you terminate on or after 1/1/1989 and have at
least 5 years of vesting service, or (3) age 55 if you were a Participant in
the Plan on 1/1/1983. If you input an earlier date, you will be prompted to
enter a valid retirement date. Note
that if you commence monthly benefits before NRD, your benefit will be reduced
for early payment. You should consult with a tax advisor or financial planner
before you make decisions about starting your benefits.
§
Projected Monthly
Benefit: This is the estimated amount you would be entitled to receive monthly
upon termination at the date selected.
§
If you have already terminated
employment, the projection tool will use your actual termination date.
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Retirement
Options Page: More Information
Please note the following regarding the estimated optional
forms of benefit shown on this page:
§
The amounts shown are
estimates and will be recalculated based on plan provisions and plan data at
your actual retirement/separation from service.
§
These are the estimated amounts you would
be entitled to receive monthly upon the termination and retirement date
selected, and your beneficiary's date of birth that you entered above.
§
If you have already terminated
employment, the projection tool will use your actual termination date.
§
The beneficiary of the
Joint and Survivor benefit will be your spouse. If you are married when you
retire you may select someone other than your spouse as your beneficiary as
long as your spouse consents in writing to this change.
§
If you terminate with a
benefit that has a present value less than $1,000, the full present value of
your benefit will be automatically distributed to you in the form of a single
lump sum payment. If your benefit has a
present value less than $5,000 but greater than $1,000 you must choose how you
want your payment made. The options
shown on the Retirement Options page may not be available to you in this
situation.
§
Refer to your Summary
Plan Description for detailed descriptions of the
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Withdrawals
Page: More Information
The amount and availability of benefits is determined based on
the provisions of the Plan. A detailed description of these provisions can be
found in your Summary Plan Description (SPD).
You may commence monthly benefits from the Plan at or after
(1) age 55 if you terminate before 1/1/1989 and have 10 years of vesting
service, (2) age 55 if you terminate on or after 1/1/1989 and have 5 years of
vesting service, or (3) age 55 if you were a Participant in the Plan on
1/1/1983, or may defer payments until NRD.
Note that if you commence monthly benefits before NRD, your benefit will
be reduced for early payment. You
should consult with a tax advisor or financial planner before you make
decisions about starting your benefits.
If you terminate with a benefit that has a present value
less than $5,000 the full present value of your benefit will be distributed to
you in the form of a single lump sum payment.
Your employment with
In order to request an actual calculation, please call the
SchwabPlan Hotline at 1-800-724-7526 and choose to speak with a Plan
representative.
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this message
Important Information for Retirees
Changing Address Information
If you would like to report an address change, please call
SchwabPlan Participant Services at 1-800-724-7526.
Changing Your Withholding Information
If you would like for us to change your tax withholding on
your monthly benefit payments, please call SchwabPlan Participant Services at
1-800-724-7526.
Changing Your Direct Deposit Information
If you would like to change the way that
your monthly benefit payment is deposited, please call Schwab Participant Services at 1-800-724-7526.
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Beneficiary
Elections: Important Information
Ÿ
On-line beneficiary functionality is not available for your plan: If you are married and die prior to
commencing benefits, your spouse may be eligible for a Qualified Pre-Retirement
Spousal Annuity. If you die prior to annuity starting date, AND no benefit is payable under optional
forms AND no Qualified Pre-Retirement Spousal Annuity is payable, your death
beneficiary will receive the actuarially equivalent of your Employee Derived
benefit by either a lump sum or monthly annuity, less than 10 years.
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